Registered number
SC492428
Lewis Blair Limited
Filleted Accounts
30 June 2023
Lewis Blair Limited
Registered number: SC492428
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Current assets
Stocks 84,946 126,446
Debtors 3 49,196 500
Cash at bank and in hand 14,511 91,989
148,653 218,935
Creditors: amounts falling due within one year 4 (32,083) (92,875)
Net current assets 116,570 126,060
Total assets less current liabilities 116,570 126,060
Creditors: amounts falling due after more than one year 5 (51,929) (63,257)
Net assets 64,641 62,803
Capital and reserves
Called up share capital 100 100
Profit and loss account 64,541 62,703
Shareholder's funds 64,641 62,803
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Pauline Sweeney
Director
Approved by the board on 20 March 2024
Lewis Blair Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Debtors 2023 2022
£ £
Trade debtors 45,677 -
Other debtors 3,519 500
49,196 500
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 11,329 11,329
Trade creditors - 26,446
Corporation tax 11,755 10,855
Other taxes and social security costs 3,471 9,995
Other creditors 5,528 34,250
32,083 92,875
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 51,929 63,257
6 Controlling party
The controlling party is Pauline Sweeney who owns 100% of the issued share capital of the company.
7 Other information
Lewis Blair Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
18 Crawfurd Street
GREENOCK
PA15 1LJ
8 Sale of business in year
The online sales arm of the business was sold in the year. The sale price was £100000 and this is
included in other operating income. The stock at date of sale amounted to £100677 at cost or
net realisable value. This is included in the turnover figure.
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